Wealth Effects LLC Lowers Stock Holdings in Eagle Materials Inc. (NYSE:EXP)

Wealth Effects LLC lessened its holdings in shares of Eagle Materials Inc. (NYSE:EXP - Free Report) by 57.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,100 shares of the construction company's stock after selling 2,800 shares during the period. Wealth Effects LLC's holdings in Eagle Materials were worth $518,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC grew its holdings in Eagle Materials by 30.1% in the 3rd quarter. FMR LLC now owns 3,801,257 shares of the construction company's stock valued at $1,093,432,000 after buying an additional 878,400 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Eagle Materials by 60.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,735,133 shares of the construction company's stock worth $499,111,000 after acquiring an additional 652,836 shares during the period. Baupost Group LLC MA boosted its position in shares of Eagle Materials by 46.2% during the 3rd quarter. Baupost Group LLC MA now owns 500,273 shares of the construction company's stock valued at $143,904,000 after acquiring an additional 158,171 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Eagle Materials in the third quarter valued at about $34,846,000. Finally, Merewether Investment Management LP acquired a new stake in Eagle Materials during the third quarter worth about $22,552,000. Institutional investors and hedge funds own 96.07% of the company's stock.

Analyst Ratings Changes

EXP has been the topic of several recent analyst reports. Citigroup lowered shares of Eagle Materials from a "buy" rating to a "neutral" rating and decreased their target price for the company from $334.00 to $280.00 in a report on Monday, January 6th. The Goldman Sachs Group increased their price objective on Eagle Materials from $277.00 to $317.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Truist Financial raised their target price on Eagle Materials from $320.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. upped their price target on Eagle Materials from $290.00 to $310.00 and gave the company a "neutral" rating in a research note on Wednesday, November 27th. Finally, Loop Capital downgraded Eagle Materials from a "buy" rating to a "hold" rating and set a $315.00 price objective for the company. in a research report on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Eagle Materials presently has an average rating of "Hold" and a consensus target price of $296.80.

Insiders Place Their Bets

In other news, CEO Michael Haack sold 11,888 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $310.50, for a total value of $3,691,224.00. Following the sale, the chief executive officer now directly owns 85,811 shares in the company, valued at approximately $26,644,315.50. This trade represents a 12.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Ross Stewart sold 3,577 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $300.30, for a total value of $1,074,173.10. Following the transaction, the director now directly owns 1,100 shares of the company's stock, valued at approximately $330,330. This represents a 76.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,866 shares of company stock worth $5,205,311 in the last quarter. 1.60% of the stock is owned by company insiders.

Eagle Materials Stock Down 1.1 %

Shares of NYSE EXP traded down $2.84 during midday trading on Friday, hitting $256.64. The company's stock had a trading volume of 138,084 shares, compared to its average volume of 302,334. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.34 and a quick ratio of 1.14. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 18.33 and a beta of 1.37. The business's fifty day simple moving average is $265.95 and its two-hundred day simple moving average is $269.68. Eagle Materials Inc. has a 1 year low of $211.44 and a 1 year high of $321.93.

Eagle Materials (NYSE:EXP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The construction company reported $3.59 EPS for the quarter, missing the consensus estimate of $3.97 by ($0.38). Eagle Materials had a net margin of 20.91% and a return on equity of 34.97%. On average, equities analysts predict that Eagle Materials Inc. will post 15.11 EPS for the current year.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 0.39%. Eagle Materials's dividend payout ratio (DPR) is 7.14%.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.